£238 in 1963 is worth £5,112.38 today

Value of £238 from 1963 to 2021

£238 in 1963 is equivalent in purchasing power to about £5,112.38 today, an increase of £4,874.38 over 58 years. The pound had an average inflation rate of 5.43% per year between 1963 and today, producing a cumulative price increase of 2,048.06%.

This means that today's prices are 21.48 times higher than average prices since 1963, according to the Office for National Statistics composite price index. A pound today only buys 4.66% of what it could buy back then.

The 1963 inflation rate was 1.89%. The current year-over-year inflation rate (2020 to 2021) is now 0.70%1. If this number holds, £238 today will be equivalent in buying power to £239.67 next year.


Inflation from 1963 to 2021
Cumulative price change 2,048.06%
Average inflation rate 5.43%
Converted amount (£238 base) £5,112.38
Price difference (£238 base) £4,874.38
CPI in 1963 54.000
CPI in 2021 1,159.951
Inflation in 1963 1.89%
Inflation in 2021 0.70%
£238 in 1963 £5,112.38 in 2021

GBP Inflation since 1750
Annual Rate, the Office for National Statistics CPI
Download

Buying power of £238 in 1963

This chart shows a calculation of buying power equivalence for £238 in 1963 (price index tracking began in 1750).

For example, if you started with £238, you would need to end with £5,112.38 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £238 is equivalent to £5,112.38 over time, that means that the "real value" of a single U.K. pound decreases over time. In other words, a pound will pay for fewer items at the store.

This effect explains how inflation erodes the value of a pound over time. By calculating the value in 1963 dollars, the chart below shows how £238 is worth less over 58 years.

According to the Office for National Statistics, each of these GBP amounts below is equal in terms of what it could buy at the time:

Pound inflation: 1963-2021
Year Pound Value Inflation Rate
1963 £238.00 1.89%
1964 £245.93 3.33%
1965 £257.39 4.66%
1966 £267.53 3.94%
1967 £274.58 2.64%
1968 £287.36 4.65%
1969 £302.79 5.37%
1970 £322.18 6.40%
1971 £352.59 9.44%
1972 £377.71 7.13%
1973 £412.09 9.10%
1974 £478.20 16.04%
1975 £594.12 24.24%
1976 £692.40 16.54%
1977 £802.15 15.85%
1978 £868.70 8.30%
1979 £985.06 13.39%
1980 £1,162.23 17.99%
1981 £1,300.19 11.87%
1982 £1,412.13 8.61%
1983 £1,476.92 4.59%
1984 £1,550.53 4.98%
1985 £1,644.84 6.08%
1986 £1,700.82 3.40%
1987 £1,771.78 4.17%
1988 £1,858.60 4.90%
1989 £2,003.17 7.78%
1990 £2,192.69 9.46%
1991 £2,321.38 5.87%
1992 £2,408.21 3.74%
1993 £2,446.55 1.59%
1994 £2,505.61 2.41%
1995 £2,592.44 3.47%
1996 £2,655.02 2.41%
1997 £2,738.32 3.14%
1998 £2,832.20 3.43%
1999 £2,875.83 1.54%
2000 £2,960.90 2.96%
2001 £3,013.34 1.77%
2002 £3,063.59 1.67%
2003 £3,152.18 2.89%
2004 £3,246.06 2.98%
2005 £3,337.73 2.82%
2006 £3,444.39 3.20%
2007 £3,592.04 4.29%
2008 £3,735.28 3.99%
2009 £3,715.44 -0.53%
2010 £3,886.89 4.61%
2011 £4,089.19 5.20%
2012 £4,220.53 3.21%
2013 £4,348.79 3.04%
2014 £4,451.48 2.36%
2015 £4,495.56 0.99%
2016 £4,573.57 1.74%
2017 £4,737.52 3.58%
2018 £4,865.44 2.70%
2019 £4,987.07 2.50%
2020 £5,076.84 1.80%
2021 £5,112.38 0.70%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 52 more rows

This conversion table shows various other 1963 amounts in today's pounds, based on the 2,048.06% change in prices:

Conversion: 1963 pounds today
Initial value Equivalent value
£1 pound in 1963 £21.48 pounds today
£5 pounds in 1963 £107.40 pounds today
£10 pounds in 1963 £214.81 pounds today
£50 pounds in 1963 £1,074.03 pounds today
£100 pounds in 1963 £2,148.06 pounds today
£500 pounds in 1963 £10,740.29 pounds today
£1,000 pounds in 1963 £21,480.57 pounds today
£5,000 pounds in 1963 £107,402.86 pounds today
£10,000 pounds in 1963 £214,805.73 pounds today
£50,000 pounds in 1963 £1,074,028.65 pounds today
£100,000 pounds in 1963 £2,148,057.29 pounds today
£500,000 pounds in 1963 £10,740,286.46 pounds today
£1,000,000 pounds in 1963 £21,480,572.93 pounds today

How to Calculate Inflation Rate for £238 since 1963

Our calculations use the following inflation rate formula to calculate the change in value between 1963 and today:

CPI today CPI in 1963
×
1963 GBP value
=
Today's value

Then plug in historical CPI values. The U.K. CPI was 54 in the year 1963 and 1159.950938 in 2021:

1159.95093854
×
£238
=
£5,112.38

£238 in 1963 has the same "purchasing power" or "buying power" as £5,112.38 in 2021.

To get the total inflation rate for the 58 years between 1963 and 2021, we use the following formula:

CPI in 2021 - CPI in 1963CPI in 1963
×
100
=
Cumulative inflation rate (58 years)

Plugging in the values to this equation, we get:

1159.950938 - 5454
×
100
=
2,048%

News headlines from 1963

Politics and news often influence economic performance. Here's what was happening at the time:

  • Iran is besieged and Ayatollah Khomeini is arrested.
  • President John F. Kennedy says segregation is morally wrong and appeals for action.
  • Sarawak is granted independence from British colonial rule.
  • The "I have a dream" speech is delivered by Martin Luther King Jr addressing civil rights march in Washington.
  • John F. Kennedy is assassinated by Lee Harvey Oswald in Dallas.

Data Source & Citation

Raw data for these calculations comes from the composite price index published by the UK Office for National Statistics (ONS). A composite index is created by combining price data from several different published sources, both official and unofficial. The Consumer Price Index, normally used to compute inflation, has only been tracked since 1988. All inflation calculations after 1988 use the Office for National Statistics' Consumer Price Index, except for 2017, which is based on The Bank of England's forecast.

You may use the following MLA citation for this page: “£238 in 1963 → 2021 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 3 Aug. 2021, https://www.officialdata.org/uk/inflation/1963?amount=238.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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» Read more about inflation and investment.

Inflation from 1963 to 2021
Cumulative price change 2,048.06%
Average inflation rate 5.43%
Converted amount (£238 base) £5,112.38
Price difference (£238 base) £4,874.38
CPI in 1963 54.000
CPI in 2021 1,159.951
Inflation in 1963 1.89%
Inflation in 2021 0.70%
£238 in 1963 £5,112.38 in 2021